MIP Cancun 2024: Trends and future for the FAST & AVOD business

Industry leaders explored innovative models such as AVOD and FAST, focusing on strategies for monetization, distribution, and effective storytelling.

20 NOV 2024

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María Pérez-Bellière, Director of MIP Cancun, officially opened the 11th edition of the Content Market and Co-Production Forum for Latin America’s television industry and the U.S. Hispanic market. The first day of MIP Cancun was packed with key moments that set the tone for an exciting week in the content industry across Latin America, which included opening remarks to exclusive sessions on the future of streaming and dedicated networking spaces.

From the stage of the Cancun Theater, María Pérez-Bellière delivered an opening speech about MIP Cancun’s purpose: fostering effective connections and key collaborations in a professional and welcoming environment. With over a decade of history, the event has evolved into much more than just a market, becoming a platform for production opportunities and content deals in Latin America.“MIP Cancun was founded over a decade ago with a clear goal: to create a different kind of market, one designed to foster connections focused on production and content deals, but with a sense of community. All this, in a setting and scale that is personal, productive, effective, and efficient,” Pérez-Bellière highlighted.

FAST & GLOBAL: AMERICA’S SUMMIT

The Cancun Theater transformed into the nexus of conversations about the rapidly evolving streaming industry in Latin America. Industry leaders delved into disruptive models like AVOD and FAST, analyzing strategies for monetization, distribution, and storytelling.

The summit began with Nicolás Smirnoff of Prensario International highlighting the transformative impact of AVOD and FAST models in the region. In collaboration with OTTera, the session underscored the necessity of monetization in the digital realm. “This year, we’re focusing on monetization, as everything done in the digital sphere must generate revenue for this industry to remain viable,” Smirnoff stressed, emphasizing the shift in content creation and consumption dynamics.

Later, Gloria Saló of GECA, led the session “Free platforms and the power of flexibility,” which examined how free platforms redefine consumer experiences. By offering accessibility and flexibility, these platforms empower users to control their content consumption. “The main reason to use free platforms is their ease of use and lack of restrictions,” Saló stated, sparking a conversation on their growing appeal and strategic potential.

Janaina Tadeu and Alejandro Veciana explored profitability in the AVOD and FAST sectors during the panel “Turning stories into profits,” emphasizing the importance of local storytelling and recognizable intellectual property. “The key to making these models work in Latin America lies in creating stories that resonate with audiences,” Tadeu explained. Veciana added, “Recognizable, emotionally connected IP is vital from the start.”

Later, during the “Being visible to exist” session, presented by OTTera, Adriana Frías provided insights into optimizing digital distribution strategies. “In a crowded digital space, you need to be available, visible, and stand out across all platforms and devices,” Frías noted, stressing adaptability to consumer habits.

The day went on with “Content as a bridge,” where Maria Luz Zucchella highlighted the role of strong relationships and compelling content in maximizing advertising revenue. “Negotiations happen with people, and captivating content is key to winning them over,” Zucchella remarked, advocating a human-centered approach to monetization.

Coming after, Goyo García and María Gabriela Díaz shared, during “Beyond television: a game of platforms,” strategies for integrating digital content into traditional broadcasting to expand audiences and revenues. “Our ideal approach is to create something digitally, nurture it, and then leverage it on free-to-air TV to multiply our reach,” Díaz explained.

The summit concluded with intimate roundtable discussions, where attendees exchanged strategies and explored collaborative opportunities in areas like monetization and local production.